Employees of nearly 4,000 branches of nationalized and some old private banks went on a strike across Madhya Pradesh on Friday, hitting business to the tune of Rs 3,50,000 crore.
The all-India bank strike had been called by All India Bank Employees Association (AIBEA).
The strike was to protest against the allegedly ‘illegal and anti-employee’ actions of five associate banks -- State Bank of Mysore, State Bank of Travancore, State Bank of Hyderabad, State Bank of Patiala and State Bank of Bikaner & Jaipur-- which is in violation of the industry-level settlement on wages and service conditions.
Employees in Bhopal also staged a demonstration in front of the Oriental Bank of Commerce and shouted slogans against the management.
In May, 2015, a settlement was signed between the unions and bank managements, which covered 44 banks on wage revision and improvement in service conditions. But after the settlement was signed, the managements of associate banks violated the settlement and imposed retrograde service conditions such as higher duties, more transferability, increased working hours, contract jobs, among other things, which was illegal, said AIBEA secretary VK Sharma.
“Bank employees have been protesting against the management’s actions and are asking for correction and adherence to the agreement for the past six months, but the management is still moving unilaterally and changing the service conditions,” he added.